BATKIN v. SOFTBANK HOLDINGS INC.


270 A.D.2d 177 (2000)

706 N.Y.S.2d 85

ANDREW BATKIN et al., Appellants, v. SOFTBANK HOLDINGS INC. et al., Respondents, and SOFTBANK INTERACTIVE MARKETING INC., Appellant.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided March 28, 2000.


Plaintiffs' fifth and sixth causes of action, asserted as purported derivative claims on behalf of nominal defendant Delaware corporation of which plaintiffs are shareholders, based on the sale of the interest of defendant former majority shareholder to an allegedly unsuitable purchaser, was correctly dismissed for failure to make particularized allegations establishing that a prelitigation demand on the corporation's board of directors would have been futile, as required...

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